14,820 Shares in Meritage Homes Corporation $MTH Bought by Weiss Asset Management LP

Weiss Asset Management LP acquired a new stake in shares of Meritage Homes Corporation (NYSE:MTH) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 14,820 shares of the construction company’s stock, valued at approximately $916,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC raised its holdings in Meritage Homes by 63.9% in the fourth quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company’s stock worth $25,000 after purchasing an additional 145 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Meritage Homes by 265.5% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the construction company’s stock worth $29,000 after buying an additional 292 shares during the last quarter. Brown Lisle Cummings Inc. bought a new position in shares of Meritage Homes during the 4th quarter worth approximately $39,000. EverSource Wealth Advisors LLC raised its stake in shares of Meritage Homes by 194.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company’s stock worth $47,000 after acquiring an additional 462 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Meritage Homes during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on MTH shares. UBS Group set a $86.00 price target on shares of Meritage Homes and gave the stock a “buy” rating in a report on Friday, April 24th. Wall Street Zen raised Meritage Homes from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research raised Meritage Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. reduced their target price on Meritage Homes from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $93.00 price target (up from $82.00) on shares of Meritage Homes in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Meritage Homes presently has an average rating of “Hold” and a consensus price target of $79.00.

Insiders Place Their Bets

In related news, CAO Alison Sasser sold 1,273 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.11, for a total value of $79,066.03. Following the sale, the chief accounting officer owned 7,634 shares in the company, valued at $474,147.74. This represents a 14.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

Meritage Homes Price Performance

Shares of MTH opened at $73.36 on Tuesday. The firm has a market capitalization of $4.89 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.96. Meritage Homes Corporation has a 1-year low of $58.03 and a 1-year high of $85.38. The company’s fifty day moving average price is $73.09 and its 200-day moving average price is $70.48.

Meritage Homes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.92 dividend on an annualized basis and a yield of 2.6%. Meritage Homes’s payout ratio is currently 35.23%.

Meritage Homes Profile

Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.

The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.